Columbia SC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Columbia, SC Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2019. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2017 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Columbia Housing Market Information

With a population of 133,114, 46,098 total housing units (homes and apartments), and a median house value of $150,451, house prices in Columbia are solidly below the national average.

Single-family detached homes are the single most common housing type in Columbia, accounting for 52.43% of the city's housing units. Other types of housing that are prevalent in Columbia include large apartment complexes or high rise apartments ( 30.34%), duplexes, homes converted to apartments or other small apartment buildings ( 12.89%), and a few row houses and other attached homes ( 3.35%).

People in Columbia primarily live in small (one, two or no bedroom) single-family detached homes. Columbia has a mixture of owner-occupied and renter-occupied housing.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Columbia's housing was primarily built during this period, from the '40s through the '60s. A full 37.46% of the city's housing hails from this era. Other housing ages represented in Columbia include homes built between 1970-1999 ( 31.10%) and housing constructed between 2000 and later ( 20.42%). There's also some housing in Columbia built before 1939 ( 11.02%).

Vacant housing appears to be an issue in Columbia. Fully 13.58% of the housing stock is classified as vacant. Left unchecked, vacant Columbia homes and apartments can be a drag on the real estate market, holding Columbia real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Columbia Home Appreciation Rates

Columbia's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Columbia during the period has been just 0.76%, which is lower than 70% of US communities.

Appreciation rates are so strong in Columbia that despite a nationwide downturn in the housing market, Columbia real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Columbia appreciation rates continue to be some of the highest in America, at 6.36%, which is higher than appreciation rates in 86.22% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Columbia. Columbia appreciation rates in the latest quarter were at 1.90%, which equates to an annual appreciation rate of 7.83%.

Importantly, this makes Columbia one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to South Carolina, our data show that Columbia's latest annual appreciation rate is higher than 80% of the other cities and towns in South Carolina.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Columbia differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Columbia - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Columbia real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$150,451

Columbia, SC HOME PRICES

Value Range
> $1,168,000 0.8
$876,001 - $1,168,000 1.9
$584,001 - $876,000 5.3
$467,001 - $584,000 4.8
$351,001 - $467,000 7.5
$234,001 - $351,000 12.7
$117,001 - $234,000 36.3
$58,001 - $117,000 23.5
$0 - $58,000 7.3

High for SC
Average for Nation

Value Relative to Nation Value Relative to State
57.2846715328467 33.7037037037037

Number Of Homes And Apartments:
46,098

Columbia Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
SC*
Compared To
America*
Latest Quarter:
2019 Q1 - 2019 Q2
Last 12 Months:
2018 Q2 - 2019 Q2
Last 2 Years:
2017 Q2 - 2019 Q2
Last 5 Years:
2014 Q2 - 2019 Q2
Last 10 Years:
2009 Q2 - 2019 Q2
Since 2000:
2000 Q1 - 2019 Q2
44.48% 1.90%
6
4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,240 / per month

Homeownership Rate

Homeownership
Owners 35.31
Renters 64.69
Vacant 13.58

Housing Market Details

 

Age of Homes

AGE OF Columbia HOMES
2000 or Newer 20.4
1970 - 1999 31.1
1940 - 1969 37.5
1939 or Older 11.0

Types of Homes

TYPE OF Columbia HOMES
Single-Family 52.4
Townhomes 3.3
Small Apt. Buildings 12.9
Apt. Complexes 30.3
Mobile Homes 1.0
Other 0.0

Home Size

SIZE OF Columbia HOMES
No Bedroom 2.79
1 Bedroom 13.98
2 Bedrooms 34.30
3 Bedrooms 34.34
4 Bedrooms 12.03
5 or more bedrooms 2.56